[Ferro-Alloys.com] In recent two weeks, worse performance of LME Ni exerted negative affect on FeNi market. However, limited spot supply of Ni Ore brought about some cushion on spot market. On May 22, the inventory of nickel ore at main ports in China totaled 18.20million tons, up by 250 thousand ton from prior week.

As for medium and high grade Ni Ore, both future and spot market prices hold steady. Ni1.6% was now quoting at RMB360-370/ wet mt and RMB440/ wet mt for Ni1.7%, while RMB510-530/wet mt for Ni1.8% at Tianjin port and RMB.580-590/ wet mt for Ni1.9% as well as RMB 640-650/ wet mt for Ni2.0%. In terms of future market, mainstream price of medium grade nickel Ni1.7% concentrated on USD 49/ wet mt FOB, while USD 62/ wet mt for high grade nickel ore 1.8.%. In fact, increasing downtrend pressure already saw in the medium and high grade Ni Ore due to falling enqury of FeNi from steel as a result of historic high record for LME Ni stockpiles.

Meanwhile, the low grade nickel ores price was still had no obviously changes. Now nickel ore (Fe50%, water33%), Ni ore (Fe49%, water33%), and Ni ore(Fe48%, water33%) was quoted at RMB200-210/wet mt, RMB190-200/wet mt and RMB180-190/wet mt. FOB (Philippine main ports) prices for above materials were $12-14/wet mt, $11-13/wet mt, $10-12/wet mt respectively.

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• [Editor:Sophie]